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Share Information

Taxation Overview

Canadian Taxpayers

The following is intended to provide individual shareholders of Superior Plus with additional information to assist in the preparation of their 2015 Canadian T1 Income Tax returns. The information presented is general in nature and cannot possibly address every situation experienced by all investors. This material is not intended to replace professional investment or tax advice.

Shares held within a Registered Retirement Savings Plan (RRSP), a Registered Retirement Income Fund (RRIF), or a Deferred Profit Sharing Plan (DPSP):

If the investment in the shares of Superior is held within one of these plans, income earned in respect of the shares is not subject to tax in the year. Instead, the amount of capital and any earnings in the plan are taxed only on withdrawal from the plan.

Shares held outside of an RRSP, RRIF or DPSP:

Shareholders with an investment outside of an RRSP, RRIF, or DPSP who received dividends will receive a “T5 Supplementary” tax slip, which is required to be mailed on or before February 29, 2016. Please note that if the shares are registered in the investor’s name, the T5 will be sent directly from Superior Plus to the shareholder. However, if the shares are held in the name of a broker (i.e. in “street form”), the shareholder will need to obtain a T5 tax slip from the broker.

U.S. Taxpayers

Information for U.S. Resident Taxpayers

The following information is provided for general information only and should not be construed to be legal or tax advice to any shareholder. Shareholders are encouraged to seek advice from a qualified tax advisor in their country or residence to obtain guidance with respect to the appropriate tax treatment of their distributions.

Superior Plus has made an election to be taxed as a corporation for U.S. tax purposes. As a result, any distribution made on a share by Superior Plus is treated as foreign-source dividend income under U.S. federal income tax principles, reportable on a Form 1099. This treatment of the distributions is based on the fact that we have not determined our current or accumulated earnings and profits. In the absence of such information, we believe that a United States resident should report our distributions as fully subject to United States federal income tax.

Providing the applicable holder-level requirements are met, we believe that these distributions would be treated as “qualified dividends,” eligible for taxation at reduced rates under U.S. federal income tax legislation.

U.S. Non-Resident Withholding Tax Information

Effective January 1, 2012, the Canadian Revenue Agency has asked all paying trust agents, including Computershare, which administers Superior Plus’s dividend payments, to withhold a statutory rate of 25% from all applicable payments or credits.

In order to be considered for the preferred treaty rate, U.S. shareholders must provide Computershare with a NR301 – Declaration of Eligibility for Benefits Under a Tax Treaty for a Non-Resident Taxpayer. A link to this form is provided below. Additionally, a copy of the letter, which provides additional details, is also provided below.

Computershare letter – CRA Letter to Holders

NR 301

Treatment of Distributions

Tax Treatment of Distributions 1996 to 2008

Here is a summary of the tax treatment of the annual cash distribution/dividend summary for Superior Plus, for income tax purposes, from inception of the Fund on October 8, 1996 to December 31, 2008.

Annual cash distribution / dividend summary

Dividends

Dividend Payment Details

The record date for each monthly dividend will be the last day of the month and payment will be made on or before the fifteenth day of the following month.

Overview

The Superior Plus operating model provides stable free cash flow to invest in growth while offering sustainable dividends to shareholders.

The following chart shows cumulative dividends paid to shareholders since inception.

Dividends Paid Since Inception

The record date for each monthly dividend will be the last day of the month and payment will be made on or before the fifteenth day of the following month.

Historical Dividend Summary – 2016

Record Date Payment Date Dividend

November 30, 2016

December 15, 2016

$0.06

October 31, 2016

November 15, 2016

$0.06

September 30, 2016

October 14, 2016

$0.06

August 31, 2016

September 15, 2016

$0.06

July 31, 2016

August 15, 2016

$0.06

June 30, 2016

July 15, 2016

$0.06

May 31, 2016

June 15, 2016

$0.06

April 30, 2016

May 13, 2016

$0.06

March 31, 2016

April 15, 2016

$0.06

February 29, 2016

March 15, 2016

$0.06

January 31, 2016

February 12, 2016

$0.06

December 31, 2015

January 15, 2016

$0.06

 

2016 Total

$0.72

Historical Dividends (2009 to 2015)

Following is an historical summary of monthly dividends paid to Superior Plus shareholders from 2009 to 2015.

Record Date Payment Date Dividend

November 30, 2015

December 15, 2015

$0.06

October 31, 2015

November 13, 2015

$0.06

September 30, 2015

October 15, 2015

$0.06

August 31, 2015

September 15, 2015

$0.06

July 31, 2015

August 14, 2015

$0.06

June 30, 2015

July 15, 2015

$0.06

May 31, 2015

June 15, 2015

$0.06

April 30, 2015

May 15, 2015

$0.06

March 31, 2015

April 15, 2015

$0.06

February 28, 2015

March 13, 2015

$0.06

January 31, 2015

February 13, 2015

$0.06

December 31, 2014

January 15, 2015

$0.06

November 30, 2014

December 15, 2014

$0.06

October 31, 2014

November 14, 2014

$0.05

September 30, 2014

October 15, 2014

$0.05

August 31, 2014

September 15, 2014

$0.05

July 31, 2014

August 15, 2014

$0.05

June 30, 2014

July 15, 2014

$0.05

May 31, 2014

June 13, 2014

$0.05

April 30, 2014

May 15, 2014

$0.05

March 31, 2014

April 15, 2014

$0.05

February 28, 2014

March 14, 2014

$0.05

January 31, 2014

February 14, 2014

$0.05

December 31, 2013

January 15, 2013

$0.05

November 30, 2013

December 13, 2013

$0.05

October 31, 2013

November 15, 2013

$0.05

September 30, 2013

October 15, 2013

$0.05

August 31, 2013

September 13, 2013

$0.05

July 31, 2013

August 15, 2013

$0.05

June 30, 2013

July 15, 2013

$0.05

May 31, 2103

June 14, 2013

$0.05

April 30, 2013

May 15, 2013

$0.05

March 31, 2103

April 15, 2013

$0.05

February 28, 2013

March 15, 2013

$0.05

January 31, 2013

February 15, 2013

$0.05

December 31, 2012

January 15, 2013

$0.05

November 30, 2012

December 14, 2012

$0.05

October 31, 2012

November 15, 2012

$0.05

September 30, 2012

October 15, 2012

$0.05

August 31, 2012

September 14, 2012

$0.05

July 31, 2012

August 15, 2012

$0.05

June 30, 2012

July 13, 2012

$0.05

May 31, 2012

June 15, 2012

$0.05

April 30, 2012

May 15, 2012

$0.05

March 31, 2012

April 13, 2012

$0.05

February 29, 2012

March 15, 2012

$0.05

January 31, 2012

February 15, 2012

$0.05

December 31, 2011

January 13, 2012

$0.05

November 30, 2011

December 15, 2011

$0.05

October 31, 2011

November 15, 2011

$0.10

September 30, 2011

October 14, 2011

$0.10

August 31, 2011

September 15, 2011

$0.10

July 31, 2011

August 15, 2011

$0.10

June 30, 2011

July 15, 2011

$0.10

May 31, 2011

June 15, 2011

$0.10

April 30, 2011

May 13, 2011

$0.10

March 31, 2011

April 15, 2011

$0.10

February 28, 2011

March 15, 2011

$0.135

January 31, 2011

February 15, 2011

$0.135

December 31, 2010

January 14, 2011

$0.135

November 30, 2010

December 15, 2010

$0.135

October 31, 2010

November 15, 2010

$0.135

September 30, 2010

October 15, 2010

$0.135

August 31, 2010

September 15, 2010

$0.135

July 31, 2010

August 14, 2010

$0.135

June 30, 2010

July 15, 2010

$0.135

May 31, 2010

June 15, 2010

$0.135

April 30, 2010

May 15, 2010

$0.135

March 31, 2010

April 15, 2010

$0.135

February 28, 2010

March 13, 2010

$0.135

January 31, 2010

February 13, 2010

$0.135

December 31, 2009

January 15, 2010

$0.135

November 30, 2009

December 15, 2009

$0.135

October 31, 2009

November 13, 2009

$0.135

September 30, 2009

October 15, 2009

$0.135

August 31, 2009

September 15, 2009

$0.135

July 31, 2009

August 14, 2009

$0.135

June 30, 2009

July 15, 2009

$0.135

May 31, 2009

June 15, 2009

$0.135

April 30, 2009

May 15, 2009

$0.135

March 31, 2009

April 15, 2009

$0.135

February 28, 2009

March 13, 2009

$0.135

January 31, 2009

February 13, 2009

$0.135

December 31, 2008

January 15, 2009

$0.135

Historical Dividends (1996 to 2008)

Following is the monthly cash distribution summary for Superior Plus, for income tax purposes, from inception of Superior Plus on October 8, 1996 until December 31, 2008.

Monthly cash distribution summary

Debentures

The Debenture document is a PDF file. Please click on the link below to view the file.

July 15, 2013 – SPB.DB.H – 6.00% Convertible Unsecured Subordinated Debentures (329KB - PDF)

The Debentures mature June 30, 2019 and are convertible at any time, at the option of the holder, into common shares of Superior Plus Corp. (TSX:SPB) at a conversion price of $16.75 per common share, being a conversion rate of 59.7015 common shares per $1,000 principal amount of Debentures.

Analyst Coverage

Please note that we do not provide analysts reports on Superior Plus. However, as a convenience to you, please find below a list of analysts that report information on Superior Plus. Their reports can be obtained directly from them. Please note that we are not endorsing any reports, statements or opinions of any analyst, including those listed below, and we are not responsible for the content of any report, statement or opinion issued by an analyst.

The Vice President, Investor Relations, and Treasurer can be contacted at: investor-relations@superiorplus.com

Company / Analyst

Alta Corp Capital
Dirk M. Lever

BMO Nesbitt Burns
Joel Jackson

Canaccord Genuity
Raveel Afzaal

CIBC World Markets
Jacob Bout

Cormark Securities Inc.
Jesse Pytlak

National Bank Financial
Patrick Kenny

Scotia Capital
Benoit Laprade

TD Newcrest
Damir Gunja

Raymond James
Steve Hansen

RBC Capital Markets
Nelson Ng

Dividend Reinvestment Plan

Superior Plus suspended the operation of its Dividend Reinvestment Plan and Optional Share Purchase Program (the “DRIP”) after the payment of the August 2016 dividend, paid on September 15, 2016.